- The major Wall Street indices remain quiet after the opening bell.
- Energy stocks turn south as WTI operates in negative territory.
- Financial stocks continue to capitalize on rising US Treasury yields.
The main stock indices They opened lateralized on Thursday as investors remain cautious ahead of FOMC Chairman Jerome Powell’s speech at the Jackson Hole Symposium. At time of writing, the S&P 500 was down 0.03% on the day at 4,496, the Dow Jones Industrial Average was up 0.15% at 35,471, and the Nasdaq Composite was unchanged on the day at 15,035.
Hours earlier, data released by the US Department of Labor showed that initial jobless claims rose 4,000 to 353,000 in the week ending August 21. Additionally, the US Bureau of Economic Analysis announced that it revised its annualized GDP growth in the second quarter to 6.6% from 6.5%.
Among the top 11 sectors of the S&P 500, the financial index has risen 0.3% supported by a rise of more than 1% seen in the yield on 10-year US Treasuries. On the other hand, the Energy Index is losing 0.55%, pressured by a 1% drop in US crude prices.
S&P 500 chart (daily)
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